What’s the Best Way to Transfer Money to Romania?
Want to make a fast, low-cost and secure online money transfer from the UK to Romania? In this guide, we explain the different ways you can send money to Romania from the UK and help you find the best providers.
There are an estimated 350,000 Romanian nationals living in the UK. Many want to send money back to their home country to support loved ones, pay bills or put money into a Romanian savings account.
Whatever the reason for your transfer, if you’re fed up with losing a chunk of your money in fees and uncompetitive UK to Romanian leu (RON) exchange rates, we’re here to help.
- What’s the Best Way to Transfer Money to Romania?
- How do I transfer money from the UK to Romania?
- Transfer money from the UK to Romania using your bank
- Send money to Romania from the UK via an online transfer company
- Send large amounts to Romania from the UK with a foreign exchange broker
- Make an instant money transfer to Romania from the UK
- Money transfers to Romania from the UK: FAQs
How do I transfer money from the UK to Romania?
There are several transfer methods you can use to send money to Romania.
The right option for you will depend on how quickly you want the money to arrive, the purpose of the transfer and who you want to send the money to. You can:
- Transfer the money using your bank – This is a secure transfer method but it can be expensive.
- Use an online money transfer company – You can choose from several transfer methods and benefit from competitive exchange rates and fees.
- Choose a foreign exchange broker – This is usually the best option for large transfer amounts.
- Make an instant money transfer – You send money that your recipient can collect in cash from a physical location.
We discuss each transfer method in more detail below so you know exactly what to expect from the exchange rates and fees, transfer speed and security.
Choosing the most appropriate transfer method can save as much as 50 GBP on a 1000 GBP transfer.
Transfer money from the UK to Romania using your bank
If you have a UK bank or building society account, you can make a direct transfer to an account in Romania.
International bank transfers are a secure way of sending money abroad as the banks use the reliable SWIFT network.
You are also protected by the Financial Services Compensation Scheme (FSCS), which guarantees the first £85,000 in your account.
Transfer cost
The downside is that international bank transfers can be expensive.
The total cost of making a GBP-RON transfer using a bank is around 5% of the total transfer amount. That’s due to hefty transfer fees and less competitive exchange rates.
If you want to send money to Romania using your bank, we’d advise you to check the GBP to RON exchange rate before you make the transfer.
Transfer speed
International bank transfers can be fairly slow. Depending on the bank, the transfer could be completed on the same day or take two to three working days.
International bank transfers from the UK to Romania are good for…
…sending money to linked bank accounts in Romania as you can often do so without incurring a fee.
If you and your recipient have linked bank accounts (they could be part of the same banking group), a bank transfer can be a cost-effective way to complete the transfer.
Send money to Romania from the UK via an online transfer company
Rather than blindly using your bank, consider using an online money transfer company.
They almost always offer better rates on UK to Romania money transfers and give you the choice of several transfer methods.
You can send money to your recipient’s bank account, send cash your recipient can collect from a physical location or transfer to an e-wallet on their mobile phone.
Online money transfer companies do not use the SWIFT network and are not protected by the FSCS.
However, many providers are authorised by the Financial Conduct Authority (FCA), which helps to keep your money safe. Authorised providers include Remitly, TransferGo, Wise, Revolut, WorldRemit and Panda Remit.
Transfer cost
Using an online money transfer company is usually the cheapest way to send money from the UK to Romania.
They often have better exchange rates than the banks and some offer zero transfer fees (depending on the transfer method).
Western Union, Profee and Remitly are some of the cheapest UK-to-Romania transfer providers.
However, exchange rates fluctuate all the time, so always compare providers before you make your transfer.
Transfer speed
The speed of the transfer varies depending on the method you use.
Sending money to a Romanian bank account with an online provider can take up to three working days.
If you send money the recipient can collect in person, the cash will usually be available within minutes.
Transfers to e-wallets are available almost immediately.
Online money transfers from the UK to Romania are good for…
…sending relatively small amounts to Romania, typically of under £5,000.
Send large amounts to Romania from the UK with a foreign exchange broker
Foreign exchange brokers such as Currencies Direct, Moneycorp and Corpay usually offer the best deals on large transfer amounts. They negotiate better exchange rates to help you save money when transferring £5,000 or more.
Foreign exchange brokers are not covered by the Financial Services Compensation Scheme (FSCS) but many are authorised by the Financial Conduct Authority (FCA). You should always use an authorised broker due to the large sums of money involved.
Transfer cost
Foreign exchange brokers don’t usually charge transfer fees and there shouldn’t be any receiving costs for your recipient.
Their exchange rates also tend to be significantly better than those offered by the banks.
Transfer speed
Sending money to Romania from the UK with a foreign exchange broker typically takes a little longer.
Your recipient will usually be able to access their money within two working days, but it can take up to five working days for the transfer to go through.
Sending money to Romania from the UK with a foreign exchange broker is good for…
…sending large, infrequent money transfers that typically start at around £5,000.
For example, you may want to transfer the money to pay school fees, university costs or the deposit on a house.
Make an instant money transfer to Romania from the UK
If you need to send money to Romania quickly or your recipient doesn’t have a bank account, an instant money transfer could be your best option.
Transfer companies like Western Union, MoneyGram and Remitly allow you to send money your recipient can collect in cash within minutes from a physical location such as a local store or bank branch.
There are cash pickup locations throughout Romania, so your recipient won’t have to travel far.
Transfer cost
The speed and convenience of this service come at a slight cost, with higher transfer fees than if you sent money to your recipient’s Romanian bank account. Remitly and Western Union are two of the cheapest providers.
Transfer speed
Your recipient will be able to collect the cash in Romania usually within minutes of you completing the transfer in the UK.
Instant money transfers to Romania from the UK are good for…
…sending money to your recipient quickly.
For example, a loved one might lose their wallet when travelling in Romania or you might want to send money to someone who doesn’t have a Romanian bank account.
Money transfers to Romania from the UK: FAQs
What’s the cheapest way to send money to Romania from the UK?
The cheapest way to send money to Romania from the UK is via an online money transfer company.
You will benefit from competitive exchange rates and some providers even offer zero fees.
Western Union, Profee and Remitly are among the cheapest UK-to-Romania transfer providers.
What’s the fastest way to send money to Romania from the UK?
The fastest way to transfer money to Romania from the UK is to use a cash pickup service or to transfer money to an e-wallet on your recipient’s mobile phone.
These transfers take place within minutes.
Profee offers the fastest card-to-card transfers while TransferGo typically offers the swiftest transfers to a Romanian bank account.
How much money can I send to Romania online?
If you’re using an online money transfer provider, there are limits to how much money you can send.
They vary depending on the transfer method you use and how you pay. You could bypass those limits by making multiple transfers.
Alternatively, you could use a foreign exchange broker. They have higher transfer limits and typically offer the most competitive rates.
What’s the best way to pay for a UK-to-Romania money transfer?
Most transfer companies offer several payment options.
You can pay using a debit card, which is easy, fast and usually cheaper than a credit card.
You can also pay via a bank deposit, which is slower than using a debit or credit card but provides good value for money.
Some providers also accept payments from Google Pay or Apple Pay. They can be convenient, but look out for extra charges when making credit card payments via Google or Apple Pay.
